The London 2012 Olympics may well be a once in a lifetime opportunity (the last time the Olympics were held in London was 1948) for many of us to experience the Olympics first hand. This has the potential if not handled correctly to cause friction between employees (who wish to attend or volunteer at the Games) and employers (who have businesses to run and staffing levels to maintain.
ACAS have issued some guidance for both employers and employees, which include an informative Q & A section.